New NEA Fund Could Bring $1 Billion To Health Care

Limited partners increasingly are finding safety in numbers, putting larger sums of capital behind select venture firms. But they also draw comfort investing in firms enjoying a strong string of exiting success. New Enterprise Associates clearly met both metrics, securing over $3 billion in capital for its 15th venture fund. The firm raised the fund around its long-time strategy of investing across multiple sectors including technology and health care. As a result, the new pool of capital – actually two funds split into $2.8 billion and $350 million – could steer $1 billion into health care companies including biopharmaceuticals, medical devices, and health care IT.